NETANYA, Israel, Jan. 31, 2021 /PRNewswire/ -- Cellcom Israel Ltd.
(NYSE: CEL) (TASE: CEL) (hereinafter: the "Company") announced
today that following its previous announcements regarding its
cellular sharing network partner, Marathon 018 Xfone Ltd., or
Xfone, non-payment of the monthly payments due under the sharing
network agreement and continued material breach of the sharing
network agreement by Xfone, Xfone sent today an annulment notice of
the sharing agreement, alleging that the Company has materially
breached the sharing agreement by acquiring Golan Telecom's share
capital and termination of Golan's MNO license. The Company
strongly rejects Xfone's allegations and annulment notice. The
Company believes Xfone's allegations to be unfounded and the
annulment notice to be unlawful, and intends to take all actions
necessary in order to enforce the sharing agreement to its
fullest.
At this stage, the Company cannot assess the implications on the
Company's results.
For additional details regarding the materiality of the network
sharing agreement on the Company's results, see the Company's 2019
annual report on Form 20-F, dated March 23,
2020, under "Item 3. Risk Factors - Our network sharing
agreements consideration constitute a significant portion of our
revenues" and Item 4. Information on the Company – B. Business
Overview – Networks and Infrastructure – Network sharing
agreements" and the Company's current reports on Form 6-K dated
November 16 and December 9, 2020.
About Cellcom Israel
Cellcom Israel Ltd., established in 1994, is a leading Israeli
communications group, providing a wide range of communications
services. Cellcom Israel is the largest Israeli cellular provider,
providing its cellular subscribers with a broad range of services
including cellular telephony, roaming services, text and multimedia
messaging, advanced cellular and data services and other
value-added services in the areas of mobile office, data
protection etc., based on Cellcom Israel's technologically advanced
infrastructure. The Company operates advanced networks enabling
high-speed broadband and advanced multimedia services. Cellcom
Israel offers nationwide customer service including telephone
customer service, retail stores, and service and sale centers.
Cellcom Israel further provides OTT TV services, internet
infrastructure and connectivity services and international calling
services, as well as landline telephone services in Israel.
Cellcom Israel's shares are traded both on the New York Stock
Exchange (CEL) and the Tel Aviv Stock Exchange (CEL). For
additional information please visit the Company's website
http://investors.cellcom.co.il.
Company
Contact
Shai Amsalem
Chief Financial Officer
investors@cellcom.co.il
Tel: +972-52-998-4774
|
Investor Relations
Contact
Elad Levy
Investor Relations Manager
investors@cellcom.co.il
Tel: +972-52-998-4774
|
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SOURCE Cellcom Israel Ltd.